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Report Date : |
23.01.2014 |
IDENTIFICATION DETAILS
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Name : |
HANIL GENERAL TRADING AND CONTRACTING CO WLL |
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Registered Office : |
Al Qatami Centre, Shuwaikh, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
19.03.2003 |
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Com. Reg. No.: |
341991, Safat |
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Legal Form : |
With Limited Liability |
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Line of Business : |
importer and distributor of general foodstuffs
including, rice, sugar and milk powder. |
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No. of Employees : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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Kuwait |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Kuwait ECONOMIC OVERVIEW
Kuwait has a geographically small, but wealthy, relatively open economy with crude oil reserves of about 102 billion barrels - about 7% of world reserves. Petroleum accounts for nearly half of GDP, 95% of export revenues, and 95% of government income. Kuwaiti officials have committed to increasing oil production to 4 million barrels per day by 2020. The rise in global oil prices throughout 2011 and 2012 is reviving government consumption and economic growth. Kuwait has experienced a 20% increase in government budget revenue, which has led to higher budget expenditures, particularly wage hikes for many public sector employees. Kuwait has done little to diversify its economy, in part, because of this positive fiscal situation, and, in part, due to the poor business climate and the historically acrimonious relationship between the National Assembly and the executive branch, which has stymied most movement on economic reforms. In 2010, Kuwait passed an economic development plan that pledges to spend up to $130 billion over five years to diversify the economy away from oil, attract more investment, and boost private sector participation in the economy.
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Source : CIA |
Company Name : HANIL GENERAL TRADING AND CONTRACTING CO WLL
Country of Origin :
Legal Form : With Limited Liability - WLL
Registration Date : 19th March 2003
Commercial Registration Number : 341991, Safat
Trade Licence Number : 879/88
Chamber Membership Number : 81566
Issued Capital : KD 250,000
Paid up Capital : KD 250,000
Total Workforce : 15
Activities : Distributors of general foodstuffs.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Alaa Mouri, Administration Manager
HANIL GENERAL TRADING AND CONTRACTING CO WLL
Registered &
Physical Address
Building : Al Qatami Centre
Area : Shuwaikh
PO Box : 5167 & 980
Town : Safat 13052
Country : Kuwait
Telephone : (965) 24827069
Facsimile : (965) 24827068
Mobile : (965) 99410606 / 66144418 / 99523248 /
66162658
Email : interco2002@yahoo.com
/ abdl@hynilq8.com
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Central Business Area of Safat.
Name Position
· Faisal Hani Saeed Ahmed Esbeeti Managing
Director
· Hani Saeed Ahmed Esbeeti Director
· Haya Mostafa Taher
Abu Zaila Director
· Abdul Ghaffar
Karnathreem General
Manager
· Alaa Mouri Administration
Manager
Date of
Establishment : 19th
March 2003
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 341991, Safat
Trade Licence No. : 879/88
Chamber Member No. : 81566
Issued Capital : KD 250,000
Paid up Capital : KD 250,000
Name of Shareholder
(s)
· Faisal Hani Saeed Ahmed Esbeeti
· Hani Saeed Ahmed Esbeeti
·
Haya
Mostafa Taher Abu Zaila
·
Dream
Foodstuff Co WLL
Safat
Commercial Registration Number: 344465
·
Haneel
Foodstuff
Safat
Activities: Engaged as import and distribution of
general foodstuffs including, rice, sugar and milk powder.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 15 employees.
Financial
highlights provided by local sources are given below:
Currency: Kuwaiti
Dinars (KD)
Year
Ending 31/12/12: Year
Ending 31/12/13:
Total Revenue KD 1,060,000 KD 1,125,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
The
Gulf Bank KSC
Mubarak Al Kabir Street
PO Box: 3200
Safat 13033
Tel: (965) 22449501
Fax: (965) 22445212
·
Commercial
Bank of Kuwait SAK
Mubarak Al Kabir Street
PO Box: 2861
Safat 13029
Tel: (965) 22411001
Fax: (965) 22450150
No complaints
regarding subject’s payments have been reported.
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.92 |
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|
1 |
Rs.101.98 |
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Euro |
1 |
Rs.83.93 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation
is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.